Financial Standard

Adviser fakes exam certificate, cops ASIC ban

KARREN VERGARA   ASIC has slapped a permanent ban on a financial adviser who doctored her exam certificate and continued to provide advice without the proper qualifications.

Sequoia chief's job at stake in upcoming EGM

ANDREW MCKEAN   Sequoia Financial Group will hold an Extraordinary General Meeting (EGM) in June that will consider a resolution to remove chief executive and managing director Garry Crole.

Platinum announces strategic review

ELIZA BAVIN   Platinum said following the review Platinum Capital and Platinum Asia Investments may be wound up.

Link shareholders approve takeover

ELIZA BAVIN   Shareholders have approved the $1.2 billion takeover offer from Mitsubishi UFJ Trust & Banking Corporation.

UniSuper selects new group insurer

JAMIE WILLIAMSON   After more than a decade in business, UniSuper has dropped TAL as its group insurer.

Life insurers struggle with code compliance

KARREN VERGARA   Life insurers continue to breach their own compliance code with more than 12,000 instances recorded, yet the body overseeing their conduct fears this is likely under-reported.

Proposed super tax obfuscates legacy pensions rules: SMSFA

KARREN VERGARA   The proposed 30% tax on large superannuation balances must clarify the confusion surrounding legacy pensions and reserves, and how they should be calculated, according to the SMSF Association (SMSFA).

intelliflo adds SMSF cashflow modelling capabilities

JAMIE WILLIAMSON   Advisers using intelliflo now have access to cashflow modelling tools for SMSF clients.

South Australia recognised as 'economic leader'

ANDREW MCKEAN   South Australia leads in economic performance across all Australian states and territories, according to the CommSec State of the States quarterly report.

Australia's budget position ranks second among G20 nations

ANDREW MCKEAN   Australia's budget balance as a share of gross domestic product (GDP) was second among G20 nations last year, improving from 14th in 2021, according to the International Monetary Fund (IMF).

Auditors lambast mandatory climate reporting requirements

ELIZA BAVIN   The peak accounting body said most auditors believe the government's mandatory reporting rules are a "significant miscalculation".

ASIC cancels AFSL of JB Markets

ELIZA BAVIN   ASIC determined JB Markets failed to meet its general obligations.

Future Fund deputy CIO jumps to Blue Owl

ELIZABETH FRY   Blue Owl Capital's hire of a top executive from the Future Fund has generated more interest in US firms vying for institutional business in Australia.

Schroders chief flags retirement

ANDREW MCKEAN   Schroders group chief executive Peter Harrison will retire next year, but he'll continue to serve as a director while the firm searches for his successor.

Mega super fund opens first international office

ANDREW MCKEAN   Australian Retirement Trust (ART) has opened its first international office in London to build out a "leading global investment capability."

Aware builds property portfolio, adds 726 homes

ELIZA BAVIN   The super fund will add more than 700 homes to Melbourne's housing market across two new developments.

Institutional investors eye increased exposure to Vietnam

ANDREW MCKEAN   Most pension fund managers and institutional investors plan to increase their exposure to Vietnam over the next three years, according to research from Dragon Capital.

The Aussie wealthtech firms that are 'most innovative'

ANDREW MCKEAN   The annual list of the world's most innovative wealthtech companies was recently released, with several Australian firms making the cut.

Wholesale investor tests up for parliamentary review

KARREN VERGARA   The federal government wants to shake up the wholesale investor tests further in launching a parliamentary inquiry into the entire framework, worrying many fund managers operating in the high-net-worth space.

ACNC tightens screws on NFPs with complex corporate structures

JAMIE WILLIAMSON   The Australian Charities and Not-for-profits Commission (ACNC) announced it will focus on the misuse of complex corporate structures this year.